I still don't see (recognize?) much in the way of Short covering!
What if these short funds are VERY smart!??
What if the last round of shorting was used to accumulate warrants? The warrants have been trading at around 50% of the share price even though they are way below exercise price...and an extra $.05 can get U a real extra mess of warrants!
Granted I've been buying warrants...and a few others I'm sure...but, what if these funds have picked up say 3,000,000 to 5,000,000 warrants?...and another 100,000 today!..up when the shares are down...hmmm..do they know the rocket is coming?!
So then it comes time to cover the short shares. They don't really care how fast they cover do they?!...because whatever they lose on the short position, they would gain back DOUBLE on the warrants! They cover MOST of the shares below $1.00, and the rest of the covering is used to run the share price up to where the warrants are GOLDEN fountains of money... (here's hoping)
Just a wild guess...couldn't really happen could it...?
But, that's what I'd do...
lotus petals,
gildage